Exchange rates last updated Sunday, 07 June 2020 11:34:41 AM AEST. The online exchange rates provided by this Currency Converter are intended as a guide only and should not be used for transactional purposes. All rates are subject to change from time to time without notice. Exchange rates used in-store may differ from those offered online. The Travelex online buy rate will be used for conversions from a foreign currency to the local currency. The Travelex online sell rate will be used for conversions from the local currency to a foreign currency.

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The lowdown on the Malaysian ringgit

Introduced in 1975 to replace the Malaysian dollar, the ringgit is still a relatively new currency. Its name translates into English as ‘jagged’, which refers to the serrated edges of the Spanish dollar that was widely used throughout Malaysia during the 16th and 17th-century Portuguese colonial era.

In 1996, Malaysia issued its third series of bank notes. They featured a design that incorporated the ‘Wawasan 2020’ ideal. Translated as ‘Vision 2020’, it’s a concept created by former Prime Minister of Malaysia Mahathir bin Mohamad, who wanted the country to achieve a self-sufficient, industrialised nation by 2020.

Today, the colourful fourth series notes still feature the country’s first Supreme Head of State, Tuanku Abdul Rahman, alongside Malaysia’s national flower, the hibiscus. The brightly coloured notes come in shades ranging from blue to orange, in denominations of 1, 5, 10, 20, 50 and 100, with imagery of significant local wildlife on the reverse.

Historic Australian dollar to Malaysian ringgit rates

Anyone exchanging Australian dollars for Malaysian ringgit between 2015 and 2017 will have received anywhere from a low of 2.77 to a high of 3.31. Stepping further back in time to review your return over the last decade, you’ll find a low of 2.18 during October 2008, and a high of 3.31 in February 2017.

With average exchange rates higher than previous years, now is a great time to get a good return on your Australian dollars.

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